Material Information of BMA Capital Management Limited

Karachi, BMA Capital Management Limited informed Pakistan Stock Exchange that as a consequence ofthe failure of negotiations to acquire voting shares of the Target Company, the Acquirer is withdrawing the aforementioned Public Announcement of Intention pursuant to the provisions of Regulation 21(1)(b) of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017 read together with the Securities Act, 2015.

BMA Capital’s core areas of business include Equity Markets, Treasury Markets, Corporate Finance & Advisory, Research, Retail Brokerage and Financial Products Distribution. BMA Capital is the leader in Privatization Advisory in Pakistan, having successfully advised on over 50% of all privatizations. Thecompany has successfully closed deals in excess of US$12 billion, including landmark transactions such as the US$2.6 billion privatization of PTCL (the largest FDI into Pakistan till date), US$1.6 billion KAPCO privatization (largest privatization in Asia at the time).